The founder of the ethereum, vital butler, announced at a recent OmiseGo question-answer event that the Ethereum network can eventually perform more than 1 million transactions per second, potentially more than 100 million transactions per second, with second-layer solutions such as shielding and plasma.
The founder of the ethereum: “ethereum does five transactions per second.”
Vitalik said he was working on the scalability issues of the Ethereum blockchain Protocol and decentralized block chain networks in general at various conferences and presentations he had attended before. In an interview with venture capitalist Naval ravikant at a conference held by TechCrunch in September 2017, vital Butler said that Bitcoin and Ethereum operate 3 to 6 processes per second. In this interview, Vitalik Butler added that Blockchain would have to perform hundreds of thousands of transactions per second to support large-scale payment networks such as Visa, stock exchanges such as Nasdaq, and objects ' Internet (IoT) networks. Vitalik butler said about the subject::
Bitcoin is currently trading slightly less than three processes per second, and if it approaches four, it is already at its highest capacity. If the ethereum is five times per second and more than six, then it is also the highest capacity. On the other hand, uber is traded on an average of 12 per second, hundreds per second in Paypal, a few thousand in Visa, tens of thousands of large stock exchanges and hundreds of thousands per second in Iot.
The founder of the ethereum: “the ethereum can perform 1 million transactions per second!”
Vitalik Butler says at the OmiseGo Q & A event, the second layer scaling solutions currently being tested on the Ethereum test network can adopt an innovative approach to the optimization of the Ethereum Blockchain to support large-scale decentralized applications with millions of users. Vitalik says the synergy between Layer 1 and Layer 2 solutions will increase the scalability of Ethereum by 10,000 X and allow the network to process millions of processes per second and support most applications. The founder of the ethereum says::
If you get 100x from shielding and 100x from Plasma, these two basically give you 10,000 x scalability. This basically means that blockages will be strong enough to handle most of the applications that most people are trying to do with them.
